Zynga’s stock has gone down, and gone down hard, plunging to $US2.95 a share since late July, a drop that spawned a shareholder lawsuit and gave a top executive the heave-ho. Sensing that some employees might follow him out the door willingly, Zynga took the unusual step of offering free stock to everyone, Bloomberg reports.
An analyst called it “positive for morale” and “the fair thing to do,” but also said “It’s a proactive move to prevent mass exodus.” Here, employees, this thing that we gave to some people before it shed 80 per cent of its value after going on sale? Have some of it. Maybe at $US2.95 it stands a better chance of being above water for you. Bloomberg notes that it’s unusual for Zynga to grant stock options to everyone.
Zynga Said To Give Stock To Keep Staff After Earnings Miss [Bloomberg]
Leave a Reply